Diassess Receives $21.9 Million in Government Funding

EMERYVILLE, Calif.--(BUSINESS WIRE)--Diassess Inc., a next generation infectious disease testing company, was
awarded a contract with the Biomedical Advanced Research and Development
Authority (BARDA), part of the Office of the Assistant Secretary of
Preparedness and Response at the U.S. Department of Health and Humans
Services. The contract establishes a partnership to advance development
of its breakthrough flu diagnostic technology for use in physician
offices and eventually in consumers’ homes. The period of performance is
for up to five-years, with Government cost-share funding up to $21.9
million if all options are exercised.

“Radical change is taking place in the delivery of healthcare services
as they become increasingly more accessible and personalized,” said John
Waldeisen, CEO and Co-founder of Diassess. “The BARDA partnership keeps
Diassess on the crest of the wave transforming the entire consumer
healthcare experience.”

The BARDA contract accelerates Diassess’ development of the
professional-use, in-clinic flu diagnostic test and sustains development
of the in-home, consumer-focused flu diagnostic test, the latter of
which includes the creation of a unique smartphone-based app that will
connect consumers to treatment options. The funding allows Diassess to
take both tests through clinical trials and submit to the U.S. Food and
Drug Administration (FDA) for clearance.

Diassess’ flu diagnostic technologies give physicians and consumers an
accurate diagnosis within 20 minutes. Beginning with a nasal swab, the
sample is inserted into a disposable DNA test. The battery-powered
device quickly analyzes the sample and a visual readout indicates either
influenza A, B or negative diagnosis. The in-home version will use a
smartphone app to directly connect the consumer to treatment options.

“Time and cost are two formidable barriers discouraging consumers from
seeking care which ultimately leads to a longer, more severe illness and
additional time away from work,” said Debkishore Mitra, CTO and
Co-founder of Diassess. “Our flu diagnostic technologies address both
barriers head-on requiring less than 20 minutes to confirm diagnosis
either in the doctor’s office or at home for a reasonable price.”

Diassess plans to launch its in-clinic diagnostic tool in 2020, and make
the over-the-counter in-home version available the following year.
Founded in 2013, Diassess also is applying its expertise to develop
rapid DNA-based diagnostic tools for infectious diseases such as
sexually transmitted infections (STIs), Dengue and Zika, and other
respiratory illnesses.

About Diassess Inc.

Diassess Inc. is revolutionizing the way infectious diseases are
prevented, diagnosed, and monitored by developing the tools necessary to
empower people to become knowledgeable about their health. The company
produces inexpensive, disposable health diagnostic hardware that
transforms any smartphone into a portable, real-time health-monitoring
device for rapid, accessible, multiplexed analysis of bodily fluids
anywhere in the world. Visit www.diassess.com
for more information.

About HHS, ASPR and BARDA

HHS works to enhance and protect the health and well-being of all
Americans, providing for effective health and human services and
fostering advances in medicine, public health, and social services. The
mission of the Office of the Assistant Secretary for Preparedness and
Response (ASPR) is to save lives and protect Americans from 21st century
health security threats. Within ASPR, BARDA invests in the advanced
research and development, acquisition, and manufacturing of medical
countermeasures – vaccines, drugs, therapeutics, diagnostic tools, and
non-pharmaceutical products needed to combat health security threats.